IOTA (MIOTA) faced some bearish pressure last week that took the price as low as $0.9058 per USD in the demand area. However, the long-term outlook is bullish. After the bears put pressure on the bulls, the bulls returned and took the price as high as $1.0620 which is in the supply area. A bearish inverted hammer that formed brought the bears back to the market. With the momentum they gathered, they pushed the price down again to $0.9719 which was in the demand area. After this, the bears came back to market with an engulfing candle.
IOTA (MIOTA) Price Analysis For July 29
IOTA (MIOTA) started the week with a bullish candle at $1.0097. The stochastic oscillator was at 52% and the signal was pointing up. This implies that MIOTA may see some upward movement soon as the bulls increase their momentum. The price is currently above the two EMAs as well as the upward trendline. If it is able to break and close above the $1.0432 level into the supply area, the door may be open for new gains. MIOTA may trade as high as $1.1400 long-term.
The IOTA Ethereum Classic Saga
MIOTA isn’t the only cryptocurrency that is having difficulties in the market. 2018 has been bumpy for cryptocurrencies. However, the technology behind MIOTA makes it one of the best in the market. So, if any cryptocurrency can survive the storm, if would be IOTA.
IOTA (MIOTA) Price Today – MIOTA / USD
The debate between IOTA and Ethereum Classic has become a hot topic in the cryptoverse. Whether or not Ethereum Classic is going to overtake the IOT market and kick IOTA out of business has been an issue in the industry. For more information about how Ethereum Classic stands as the biggest competition to IOTA, click here. Irrespective of the promising technology behind IOTA, there are still a few reasons for the IOTA community to be sacred.